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Insurance Institute Renamed To Honor Vaughan

The Board of Regents, State of Iowa has renamed the Institute of Risk Management and Insurance at the University of Iowa the Emmett J. Vaughan Institute of Risk Management and Insurance.

Emmett J. Vaughan, J.E. Partington Professor of Insurance at the UI's Tippie College of Business, passed away on Oct. 24, 2004. Naming the Institute in Vaughan's honor recognizes the pivotal role he played in establishing the Institute that was approved by the Board of Regents in 2002. In addition, it recognizes the impact he had on an extraordinary number of students during his 40-year tenure at the University, and his international reputation in the insurance industry.

During the 1970s and 1980s, Vaughan helped to establish the UI's insurance education program as one of the top four programs in the nation. Vaughan was a preeminent scholar with an international reputation. His book, "Fundamentals of Risk Management and Insurance," now in its ninth edition, is a leading insurance textbook. The author of 15 books and 200 scholarly articles, Vaughan was inducted into the Japanese Risk Management Society in 1987, one of only two Americans so honored. That year, he was also named a charter member of the Iowa Insurance Hall of Fame.

"We at the Vaughan Institute are committed to continuing Emmett's widely-respected and renowned work in risk management and insurance, and to realizing his vision through this institute, which he was so instrumental in creating," said Larry D. Hershberger, director of the Vaughan Institute. "Through his teaching, mentoring and friendship, Emmett inspired so many of us to enter this profession. With the continued support and counsel of alumni, friends and the insurance industry, and of our faculty, staff and students, we will have an institute of which Emmett would be very proud."

The mission of the Vaughan Institute of Risk Management and Insurance is to provide a comprehensive program of innovative education, research and leadership in the field of risk management and insurance by educating students and augmenting the professional skills of Iowa's insurance employees. The institute's curriculum has been approved, and additional classes will be offered in the spring 2005 semester.

The Tippie College of Business has designated the Institute as one of its top priorities, pledging to raise $6 million in private funding to ensure its future. To date, nearly 40 percent of the goal has been raised, including a $1.5 million endowment gift from Allied Insurance, and significant commitments from The United Fire Group, the McIntyre Foundation and TrueNorth Companies in Cedar Rapids; the Independent Insurance Agents of Iowa and Dana Ramundt in West Des Moines; the ING Foundation in Atlanta, Ga.; AW Welt Ambrisco Insurance Inc. in Iowa City; and Dan McKay in Knoxville, Iowa. In addition, gifts in memory of Emmett Vaughan have totaled some $24,000 from numerous individuals and businesses.

For more information about giving opportunities to the Emmett Vaughan Institute of Risk Management and Insurance see www.givetoiowa.org/vaughan.


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